An in-depth review of Rotary insurance was started in 2018. This was triggered by a request to join the existing Australian scheme on the creation of Zone 8.
Legislation, RI policy and processes had changed and there were significant differences between the Australian and New Zealand situations. Programmes involving children, in particular high profile cases involving abuse, meant a review was needed.
In 2019 an RFP went out to 4 major brokers in NZ, AON, Marsh, Crombie Lockwood and Apex. Marsh withdrew and Crombie Lockwood, after meetings, declined to participate. AON (the broker for the Zone 8 Australian scheme) and Apex submitted. After the meetings and rounds of responses, in Jan 2020 APEX was appointed the broker to 9910, 9920 and 9940.
APEX then went to the market for those Districts with a detailed insurance Underwriting Submission. Our existing insurer, QBE, after reading the submission, withdrew on the basis it could not provide the covers required.
Rotary in Oceania was fortunate that AIG, one of the top 10 largest insurers in the world offered the best terms.
The new insurance program covers all of the different type of entities in Rotary.
The programme is opt-in.
Each Rotary District, Company, Trust and Club can have its own policy. Optional covers include Cyber risks. The District and Club policies includes the District and Club’s trust and accidental death cover.